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Ikenna Ngere
Guest
The National Bureau of Statistics (NBS) has revealed a significant increase in the price of a 12.5kg cylinder of liquefied petroleum gas (LPG), commonly known as cooking gas.
According to their latest report for August 2024, the cost surged by 69.15% over the past year.
In August 2024, Nigerians paid an average price of ₦15,552.56 for a 12.5kg cylinder, compared to ₦9,194.41 in August 2023.
The report also highlighted that the price jumped from ₦14,261.57 in July 2024 to ₦15,552.56 in August, reflecting a 9.05% increase month-on-month.
“On a year-on-year basis, this marks a 69.15% rise from ₦9,194.41 in August 2023,” the NBS stated.
In terms of state-specific prices, Rivers recorded the highest average price for refilling a 12.5kg cooking gas cylinder at ₦17,086.36, followed by Cross River at ₦17,050, and Abia at ₦17,012.52.
Conversely, Bauchi had the lowest average price at ₦13,425.00, with Nassarawa and Adamawa following at ₦13,640.94 and ₦13,725.00, respectively.
Regional analysis showed that the South-South zone had the highest average retail price for refilling a 12.5kg cylinder at ₦16,524.00, followed by the South-East at ₦16,495.78. The North-Central zone recorded the lowest average price at ₦14,767.41.
‘Price of 5kg LPG Cylinder Also Increased’
The report further noted a rise in the price of 5kg LPG cylinders, which saw a 7.62% increase month-on-month, rising from ₦5,974.55 in July to ₦6,430.02 in August.
On a year-on-year basis, the price increased by 56.25%, up from ₦4,115.32 in August 2023.
In the state breakdown, Benue and Sokoto recorded the highest prices for refilling a 5kg cylinder at ₦7,000.00, followed by Rivers at ₦6,954.55 and Borno at ₦6,914.29.
On the other end, Taraba recorded the lowest price at ₦5,600.67, with Abuja and Kogi trailing at ₦5,825 and ₦5,857.56, respectively.
Regionally, the South-East had the highest average retail price for a 5kg LPG cylinder at ₦6,585.18, while the South-South and North-Central zones recorded ₦6,451.34 and ₦6,344.29, respectively.
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